161 SECTION 5 COMMITMENT TO GOVERNANCE INTEGRATED ANNUAL REPORT 2025 d. On 25 November 2025, the AC reviewed the WB Group Interim Audit Report presented by PwC for the financial year ended 31 December 2025 which covered the scope of audit involving the tests of controls over Management’s processes surrounding revenue and receivables, purchases and payables, treasury, payroll and inventory cycles and test of details performed on certain subsidiaries within the Group. e. On 24 February 2025, 7 April 2025 and 25 November 2025, the AC reviewed the list of approved Non-Assurance Services (“NAS”) provided by PwC in respect of the financial years ended 31 December 2024 and 31 December 2025 respectively in accordance with the Group’s NAS Concurrence Policy. f. On 24 February 2026, the AC reviewed the WB Group Final Audit Report presented by PwC and discussed on the key findings highlighted by PwC in respect of the accounting estimates, significant judgements and internal control matters of WB Group for the financial year ended 31 December 2025. g. On 24 February 2026, the AC noted the PwC Malaysia Transparency Report 2025 as tabled by PwC in accordance with the compulsory annual transparency reporting for audit firms registered with the Securities Commission’s Audit Oversight Board. h. The AC at its meeting held on 6 April 2026 reviewed the annual assessment of the performance of PwC in respect of the financial year ended 31 December 2025 based on the following areas:- • Calibre of External Auditors; • Quality processes/performance; • Audit team; • Independence and objectivity; • Audit scope and planning; • Audit fees; and • Audit communications. Being satisfied with their performance, technical competency and audit independence, the AC recommended the re-appointment of PwC as the External Auditors of the Company and the Group for the financial year ending 31 December 2026 to the Board for approval accordingly. The Board would table the same to the Company’s shareholders for their approval at the AGM of the Company to be held on 19 May 2026. i. The AC had obtained confirmation from the External Auditors confirming their independence and that they were not aware of any non-audit services that had compromised their independence as External Auditors of the Group throughout their terms of engagement for the financial year under review. 3.4 Recurrent Related Party Transactions a. On 24 February 2025, 26 May 2025, 25 August 2025, 25 November 2025 and 24 February 2026 respectively, the AC reviewed all related party transactions and recurrent related party transactions to ensure that they were within the mandate obtained from the shareholders of the Company at the AGM. b. The AC at its meeting held on 6 April 2026 reviewed the proposed renewal of shareholders’ mandate for the existing recurrent related party transactions of a revenue or trading nature and provision of financial assistance between the Company and/or its subsidiaries for inclusion in the Circular to Shareholders pursuant to Bursa Malaysia’s MMLR for the Board’s approval. 3.5 Company’s Share Buy-Back The AC reviewed and recommended the proposed renewal of the share buy-back mandate from the Company’s shareholders on 6 April 2026 to the Board for approval prior to the Share Buy-Back Statement being incorporated into the Circular to Shareholders for year 2026. AUDIT COMMITTEE
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